Page 2 - Tax Saving News Today

By contributing to a Tier I (retirement) account, investors can secure their retirement foundation, enjoying the benefits of a disciplined savings mechanism and tax advantages, while Tier II (investment account) allows for the management of additional savings with greater flexibility, catering to evolving financial needs and opportunities.

ELSS or tax-saving schemes are benchmarked against Nifty 500 - TRI, S&P BSE 500 - TRI, S&P BSE 100 - TRI. Nifty 500 - TRI, S&P BSE 500 - TRI gave 19.30% each, and S&P BSE 100 - TRI gave 17.59%.

Best tax-saving FDs: Here is a look at 5 banks offering the highest interest rates on tax-saving FDs.

Financial planning is crucial for salaried women due to lack of financial literacy. Tax-saving strategies include overlooked avenues for substantial savings. Life endowment policies offer tax advantages applicable to both men and women, while ELSS mutual funds provide flexibility.

Public provident fund (PPF), Sukanya Samriddhi Account (SSA), National Savings Certificate (NSC) are among the popular instruments that offer deductions under section 80C.

Despite the increase in awareness around the importance of incorporating tax planning into the overall financial planning strategy and starting early, many tend to put off the process until the last minute.

Financial Literacy News: Tax-saving time is here. You have until March 31, 2024, to finalize your tax-saving plans for the 2023-24 financial year. If you're sticking to the old tax rules, there are plenty of deductions and exemptions to help you save on income tax.

These dates pertain to a few regulations that taxpayers and investors must follow in order to prevent any last-minute headaches or losses due to penalties or fines for missing the deadlines. The following are some of the important dates that fall in the month of March 2024.

Tax planning: In a hurry to save on taxes under section 80C, which offers tax deductions of up to Rs 1.5 lakh on certain instruments, including life insurance premiums, many end up buying products such as endowment plans and unit-linked insurance policies (Ulips) that they do not necessarily need.

Up to 7.4% FD rate: Top banks that offer highest interest rates on tax-saving FDs